SYBCOM Business Management – Complete Question Bank (Modules 1–3): 16 flashcards
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1. What is management?
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Management is the process of planning, organizing, staffing, directing, and controlling resources to achieve goals efficiently and effectively.
2. What are the key features of management?
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Key features include goal-oriented, continuous, universal, group activity, multidimensional, dynamic, intangible, coordinating, and efficiency-focused.
3. What are the functions of management?
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The functions are planning, organizing, staffing, directing, controlling, coordination, and decision-making.
4. What does Scientific Management focus on?
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It focuses on the scientific study of work, standardization, training, and incentive wages.
5. What is the main emphasis of Bureaucratic Management?
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It emphasizes hierarchy, division of work, formal rules, procedures, and competence-based selection.
6. What are Fayol's 14 principles of management?
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They include division of work, authority and responsibility, discipline, unity of command, unity of direction, subordination of individual interest, remuneration, centralization, scalar chain, equity, initiative, and esprit de corps.
7. What does unity of command mean?
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It means one employee should receive orders from only one superior.
8. What is the neo-classical approach to management?
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It emphasizes human relations and the psychology of individual and group behavior.
9. What is the Systems approach in management?
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It views the organization as an open system of interrelated parts taking inputs, running a process, and producing outputs.
10. What does Indian ethos in management stress?
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It stresses ethical conduct, duty, self-management, human values, teamwork, social responsibility, and a long-term holistic view.
11. What is the importance of planning?
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Planning provides direction, reduces uncertainty, ensures optimum resource use, facilitates decisions, promotes coordination, reduces risk, and encourages innovation.
12. What is Management by Objectives (MBO)?
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MBO involves joint goal setting between managers and employees and appraisal against agreed objectives.
13. What is a Management Information System (MIS)?
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MIS collects, processes, stores, and supplies information for planning, controlling, and decision-making.
14. What are the essentials of sound decision-making?
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They include clear objectives, accurate information, alternatives, evaluation, logical analysis, timeliness, flexibility, participation, and ethics.
15. What is the role of AI in business decision-making?
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AI supports decisions through data analysis, forecasting, customer insights, risk management, and automation.
16. What is organizing in management?
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Organizing involves identifying activities, grouping them, assigning duties, establishing authority relationships, and coordinating resources.
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